TechFlow news, according to Business Insider, the Department of Government Efficiency (DOGE) announced in a post on X on Friday that within 80 hours, it had canceled approximately $420 million worth of existing or pending government contracts, along with two leases.
Based on Business Insider's calculations, this equates to canceling around $126 million in contracts per day. If the organization continues at this pace over the 530 days between January 20, 2025, and July 4, 2026, it would cancel about $67 billion in contracts annually. (Note: The temporary U.S. DOGE operation is scheduled to end on July 4, 2026.)
This would ultimately represent about 3% of Elon Musk's original goal to cut $2 trillion from the federal budget, or 7% of his revised $1 trillion reduction target.
Currently, DOGE is primarily focusing on DEI (Diversity, Equity, and Inclusion) contracts and idle buildings, but it cannot directly alter the federal budget without congressional approval.
